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Ethereum consolidating slightly upwards on an important support. Can you regain ground?


Ethereum, the second largest cryptocurrency by market capitalization, is seen today trying to consolidate slightly higher on the pivot point of the week. A key support in most cryptocurrencies at this time.

Ether has dropped 10.15% from $ 179 to $ 161 this weekend, a setback that has led it to be close to the 38% fibonacci level. So far, as we have said in recent analyzes, we are in a technical correction where we still cannot consider that we have entered into a downtrend.

38% fibonacci is an important rebound area in assets. If we lower these levels the situation would be a little more delicate, looking for prices below $ 155. At the moment the consolidation over 23% is maintained, although the volume is not the most indicated.

After the recent fall we have seen a decrease in volume and that can make the price not consolidate quite well over current levels.

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